Pursuant to the announcements dated 28 October 2011, 10 November 2011 and 16 November 2011, AirAsia Berhad (“AirAsia” or “the Company”) wishes to announce that the Company had on 7 December 2011 entered into the fourth of a series of finance lease transactions (“Transaction”) with PT Indonesia AirAsia (“IAA”) where the Company transfers to IAA the title of one (1) aircraft bearing manufacturers serial number 3486 (“Aircraft”) owned by the Company. Simultaneous to the transfer, the Company and IAA have entered into a leasing transaction in respect of the Aircraft under commercial terms.

This announcement is dated this 8th day of December 2011.